Q3 2024 EPS Estimates for PulteGroup, Inc. Decreased by Seaport Res Ptn (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Investment analysts at Seaport Res Ptn decreased their Q3 2024 EPS estimates for PulteGroup in a report issued on Tuesday, July 23rd. Seaport Res Ptn analyst K. Zener now expects that the construction company will earn $3.05 per share for the quarter, down from their prior forecast of $3.24. The consensus estimate for PulteGroup’s current full-year earnings is $12.68 per share. Seaport Res Ptn also issued estimates for PulteGroup’s Q4 2024 earnings at $3.57 EPS.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter last year, the business posted $3.00 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

Several other analysts also recently weighed in on the company. BTIG Research upped their price objective on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Bank of America increased their price objective on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays boosted their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.93.

PulteGroup Stock Up 2.0 %

NYSE PHM opened at $125.00 on Friday. The business has a fifty day moving average price of $114.10 and a two-hundred day moving average price of $111.32. The stock has a market capitalization of $25.94 billion, a PE ratio of 10.01, a PEG ratio of 0.52 and a beta of 1.61. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $129.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.85.

Hedge Funds Weigh In On PulteGroup

Hedge funds have recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup in the first quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new position in shares of PulteGroup in the 1st quarter worth approximately $26,000. LRI Investments LLC bought a new stake in shares of PulteGroup in the 1st quarter valued at $28,000. Continuum Advisory LLC increased its position in shares of PulteGroup by 94.5% during the second quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock worth $35,000 after buying an additional 154 shares during the period. Finally, Rakuten Securities Inc. bought a new position in PulteGroup during the fourth quarter worth $37,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were paid a $0.20 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. PulteGroup’s payout ratio is 6.41%.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.